Cell Phone Syndrome
I don’t mean do your employees use their mobile phones at work. I mean does your business employ a strategy where new clients are given the world and your existing clients are taken for granted? Wireless companies will give you the moon and the stars to sign with them but after a few years do you get any consideration at all? Usually not. Unless you threaten to leave and sometimes not even then. Rough words, I know. But take a step back and look at your revenue streams and where the main thrust of your sales and marketing efforts are aimed. There is no doubt that every business must obtain new clients, customers, patients or whatever you call those who pay for your product or service, but every business loses at least some business every year.
Think of it like a cup with a hole in the bottom. Your goal is to increase the water level. The incoming business is the water poured into the cup. The outgoing business is coming out of the bottom. You need not be a rocket scientist to know that if you keep the water flow at the top the same but make the hole smaller the cup will fill faster. What if you were able to focus the same effort on new business while saving and growing business from existing accounts. When Willie Sutton was asked why he robbed banks he responded, “Because that’s where the money is.” Your current clientele already know you and are doing business with you. Why not show them a little more love and watch your revenue grow?